Money is a complex phenomenon: it has the potential to unite people from opposite corners of the globe but it can also be the source of strife and suffering. Understanding when, why, and how money changes interpersonal processes is thus an important endeavor for many academic disciplines. To shed light on these questions, this chapter reviews a growing body of research that has investigated the linkages between interpersonal outcomes and money in its varied forms, such as loving money, having money, and merely thinking about money. To date, the majority of the psychological literature points to money hindering interpersonal harmony and inner processes that facilitate interpersonal outcomes. Yet emerging evidence indicates that money has the potential to foster interpersonal harmony, particularly in exchange contexts or when the dominant exchange function of money is overridden by communal motives. Although money and power have elicited similar outcomes, power cannot explain all the cognitive, motivational, and behavioral consequences of money. Future research should therefore continue to disentangle how money and power similarly and differentially alter interpersonal processes. Additionally, research should continue to uncover the interpersonally beneficial consequences of money, so that future generations can fully utilize the remarkable strengths of money for the benefit of many.
|Title of host publication||The Psychological Science of Money|
|Editors||Erik Bijleveld, Henk Aarts|
|Place of Publication||New York|
|Publication status||Published - 2014|